Singapore's Straits Times Index gained 0.3 percent to 3,133.36 as of 9:20 a.m. local time. Five stocks rose for each that fell in the benchmark index of 30 companies. The index is headed for its first weekly drop in three weeks
Shares on the measure trade at an average 14.4 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.
Biosensors International Group Ltd. (BIG SP), a maker of drug-coated stents used to treat blocked arteries, gained 1.5 percent to S$1.34. The company said fourth-quarter sales increased 36 percent from a year earlier to $44.5 million.
Nam Cheong Ltd. (NCL SP), a Malaysian builder of offshore support vessels, slumped 46 percent to 27 Singapore cents as it resumed trading following a monthlong suspension. The company, which took over the listing of Eagle Brand Holdings Ltd., said it sold 191.3 million shares at 21 Singapore cents each in a placement to comply with Singapore Exchange's requirement for it to relist.
Olam International Ltd. (OLAM SP), a supplier of agricultural commodities, gained 1 percent to S$2.93. The company said it will take a fully underwritten $1.25 billion syndicated term loan facility to refinance debt and for working capital.
Tat Hong Holdings Ltd. (TAT SP), a crane-leasing company, slipped 0.6 percent to 83.5 Singapore cents. The company said full-year net income slumped 33 percent from a year earlier to S$26 million as it booked impairment charges arising from floods in Australia.
Shares on the measure trade at an average 14.4 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.
Biosensors International Group Ltd. (BIG SP), a maker of drug-coated stents used to treat blocked arteries, gained 1.5 percent to S$1.34. The company said fourth-quarter sales increased 36 percent from a year earlier to $44.5 million.
Nam Cheong Ltd. (NCL SP), a Malaysian builder of offshore support vessels, slumped 46 percent to 27 Singapore cents as it resumed trading following a monthlong suspension. The company, which took over the listing of Eagle Brand Holdings Ltd., said it sold 191.3 million shares at 21 Singapore cents each in a placement to comply with Singapore Exchange's requirement for it to relist.
Tat Hong Holdings Ltd. (TAT SP), a crane-leasing company, slipped 0.6 percent to 83.5 Singapore cents. The company said full-year net income slumped 33 percent from a year earlier to S$26 million as it booked impairment charges arising from floods in Australia.
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